MARKET INFRASTRUCTURE

    Market Infrastructure

    MAS Revises Anti-commingling Framework For Banks

    By Manesh Samtani | 02/12/2020

    MAS has prescribed a list of permissible non-financial businesses to ensure banks are not engaging in “high-risk non-financial business that do not bring strategic value to its core banking business”.

    AML / KYC

    FATF Consults on AML/CTF Frictions in Cross-border Payments

    By Editors | 01/12/2020

    The FATF seeks feedback to help identify how divergent AML/CFT measures adopted at the national level add to the challenges of cross-border payments.

    Market Infrastructure

    Some USD LIBOR Settings May Continue Past End-2021

    By Manesh Samtani | 01/12/2020

    ICE Benchmark Administration intends to continue publishing some tenors of USD LIBOR until end-June 2023, which could allow time for most legacy contracts to mature.

    ESG / Sustainability

    Singapore Banks Get New Best Practice Code for Commodity Financing

    By Editors | 01/12/2020

    The Code was developed by an industry working group of 28 commodity financing banks in consultation with trading firms and with the support of regulators.

    Fintech / Regtech

    Lack of Electronic Solutions Hindering Capital Market Access: ASIFMA

    By Editors | 30/11/2020

    The report calls on government and regulators to facilitate greater use of e-signatures, virtual meetings, and other electronic solutions in Hong Kong and Singapore capital markets.

    Fintech / Regtech

    Singapore E-wallets to Gain Direct Access to FAST, PayNow

    By Manesh Samtani | 30/11/2020

    Consumers will be able to top-up their e-wallets directly through their bank accounts, rather than using a debit or credit card. Fund transfers between e-wallets will also be made possible.

    Market Infrastructure

    ASIC Issues Guidance on Managing LIBOR-related Conduct Risk

    By Editors | 30/11/2020

    The new guidance is aimed at assisting entities in establishing necessary arrangements to mitigate conduct risk associated with the discontinuation of LIBOR.

    Securities / Derivatives

    Japan FSA Orders JPX, TSE to Improve Following Market Outage

    By Editors | 30/11/2020

    TSE President and CEO Koichiro Miyahara has resigned to take responsibility for a system failure that caused a full-day market closure in October.

    Fintech / Regtech

    NZX to Create Industry Working Group on Capital Markets Technology

    By Editors | 30/11/2020

    The working group will develop a roadmap to solve for New Zealand’s lack of scale and geographic isolation through the use of technology.

    Market Infrastructure

    HKEX Announces Stock Connect Expansion Arrangements

    By Manesh Samtani | 29/11/2020

    Pre-revenue biotech companies listed on Hong Kong’s Main Board will be included from 27 December. SSE STAR Market stocks will be included in early 2021.

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